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4. HECKSCHER-OHLIN MODEL II Consider a world economy with two countries: Evans (E) and Giannini (G) producing two goods, hats (H) and books (B) using

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4. HECKSCHER-OHLIN MODEL II Consider a world economy with two countries: Evans (E) and Giannini (G) producing two goods, hats (H) and books (B) using two factors of production, skilled labor (S) and unskilled labor (U). Production technology in both countries is given by: m=$ QB = U33; (1) Noting that skill premium is the wage of the skilled (7') relative to unskilled (w) labor, for each industry, derive the relative demand for skilled versus unskilled labor as a function of the skill premium

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